According to a report by the National Consumer Law Center [NCLC], debt for Americans age 65-69 has increased by 217% between 1992 and 2001. Debt among this age group is especially problematic, as they have lower income, higher expenses, and yet are using credit cards to pay for essential items such as food, medicine, and home repairs. Older adults who were previously denied credit cards in the past have taken advantage of more lenient qualifications, with devistating consequences. For a complete report on the topic of debt among the older population, check out the NCLC website at http://www.nclc.org/
Dr. Jan Vinita White, PhD, Gerontologist
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